Daily Widget, printed.owl.com

Monday, August 15, 2011

Is that so wrong?

"We draw the line against misconduct, not against wealth."

Theodore Roosevelt, 26th President, 1901-1909 MESSAGE OF THE PRESIDENT OF THE UNITED STATES COMMUNICATED TO THE TWO HOUSES OF CONGRESS AT THE BEGINNING OF THE SECOND SESSION OF THE FIFTY-SEVENTH CONGRESS December 2, 1902 In my Message to the present Congress at its first session I discussed at length the question of the regulation of those big corporations commonly doing an interstate business, often with some tendency to monopoly, which are popularly known as trusts. Corporations, and especially combinations of corporations, should be managed under public regulation. Experience has shown that under our system of government the necessary supervision can not be obtained by State action. It must therefore be achieved by national action. Our aim is not to do away with corporations; on the contrary, these big aggregations are an inevitable development of modern industrialism... we are not attacking the corporations, but endeavoring to do away with any evil in them. We are not hostile to them; we are merely determined that they shall be so handled as to subserve the public good. We draw the line against misconduct, not against wealth. The capitalist who, alone or in conjunction with his fellows, performs some great industrial feat by which he wins money is a welldoer, not a wrongdoer, pro vided only he works in proper and legitimate lines. We wish to favor such a man when he does well.

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